The American company Clearway Energy Group, which is engaged in the development of clean energy, is launching a pilot program for trading renewable energy on the blockchain.
Clearway Energy, in partnership with Power Ledger, which specializes in Ethereum-based electricity trading, created a system for trading renewable energy certificates.
According to Power Ledger, the solution will first be tested in Massachusetts, generating from one to five megawatts of electricity, and the second test, in which it is planned to generate more than 20 megawatts, will take place in the Midwest.
The report says that the renewable energy certificate market in the United States is currently valued at more than $ 3 billion. It is assumed that transaction costs may add another 3-10% to the cost of the certificates themselves.
Jemma Green, Chairman of the Board of Directors of Power Ledger, said that the company plans to conduct testing within a few months, and the implementation is scheduled to begin in early 2020.
Note that the blockchain is increasingly used in the energy sector. Recently, it became known that Toyota and the University of Tokyo are testing a blockchain-based electricity trading system, and in May, the energy company EDF said it was testing an application based on Ethereum.
In addition, at the beginning of the year, it became known that Power Ledger and Sharing Energy use the blockchain to sell solar energy.